Paramount Pictures has clinched a $36 million distribution agreement for the upcoming fantasy film based on Matt Haig’s novel *The Midnight Library*. The deal,announced at Cannes, marks the market’s biggest transaction this year and pits Paramount against Focus Features and Sony for North American rights.

Paramount’s $36 Million Win Beats Sony and Focus Features

According to the source, Paramount emerged victorious in a competitive bidding war, securing the North American and select international territories for the adaptation. The studio outmaneuvered Sony and Focus Features, both of which had shown strong interest in the project.

StudioCanal Retains Control Over Key European Markets

The agreement leaves StudioCanal in charge of distribution across the United Kingdom, France, Germany, Italy, Poland, the Benelux region, Australia,New Zealand and South Africa, reflecting the novel’s strongest readership in those territories. this split underscores the commercial logic of leveraging StudioCanal’s established infrastructure in markets where the book sold millions of copies.

Director Garth Davis and Cast Lead a Philosophical Fantasy

Garth Davis, Oscar‑nominated for *Lion*, will direct the film, while Florence Pugh stars as Nora Seed, the protagonist who discovers a library of alternate lives.. The screenplay is penned by Olivier Award winner Laura Wade and Tony nominee Nick Payne,whose backgrounds suggest a focus on preserving the novel’s introspective tone rather than turning it into a convenional blockbuster.

Budget and Production Scale Place Film Among Europe’s Costliest

The production is budgeted at $70 million, making it one of the most expensive European‑backed films in recent years. Pre‑production begins this autumn with principal photography slated for early next year, according to the report.

Who Will Translate Pandemic‑Era Bestseller Success to Box‑Office Returns?

While the novel has sold 15 million copies worldwide and been translated into 56 languages, the source notes uncertainty about whether Paramount can replicate that popularity in the current theatrical climate for prestige cinema.